Indeed, real personal consumption expenditure was higher in September 2009 than it was a year earlier (as was real personal disposable income), while work hours had fallen 7 percent. This recession cannot be understood merely as the consequence of low spending.Read more of Casey Mulligan's "A Jobless Recovery."
Correcting misconceptions about markets, economics, asset prices, derivatives, equities, debt and finance
Wednesday, November 11, 2009
A Jobless Recovery: Casey Mulligan
Posted By Milton Recht
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